Detroit, Sept. 22, 2020 (GLOBE NEWSWIRE) -- DETROIT, Sept. 22, 2020 — DTE Energy Company (NYSE: DTE) announced today its intention to offer for sale, subject to market and other conditions, a new series of junior subordinated debentures due Oct. 15, 2080.
DTE intends to use the net proceeds of the offering to redeem its 2012 Series C 5.250% junior subordinated debentures due 2062 of which $200 million aggregate principal amount are outstanding. This news release shall not constitute a notice of redemption of the 2012 Series C 5.250% junior subordinated debentures or an obligation to issue a notice of redemption.
BofA Securities, Morgan Stanley, and Wells Fargo Securities will be joint book running managers for the offering.
The offering will be made under an effective shelf registration statement, as amended, filed with the U.S. Securities and Exchange Commission (SEC). This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. Any offers of the securities will be made exclusively by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting BofA Securities, Inc. toll-free at (800) 294-1322 or by email at email@example.com, Morgan Stanley & Co. LLC toll-free at 866-718-1649 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.
The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “may,” “could,” “projected,” “aspiration,” “plans” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties, and actual results may differ materially.
Pete Ternes DTE Energy 313.235.5555